Inspire Advisors LLC Acquires 10,764 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Key Points

• Inspire Advisors LLC significantly increased its holdings in Manhattan Associates by 435.4% during the first quarter, acquiring a total of 13,236 shares valued at approximately $2.29 million.
• Manhattan Associates reported a quarterly earnings per share (EPS) of $1.31, surpassing estimates by $0.19, along with a revenue of $272.42 million, which also exceeded analyst forecasts.
• The stock currently has an average rating of "Hold" from analysts, with a target price range that varies from $200.00 to $250.00 following recent upgrades and downgrades.

Inspire Advisors LLC raised its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 435.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,236 shares of the software maker's stock after acquiring an additional 10,764 shares during the quarter. Inspire Advisors LLC's holdings in Manhattan Associates were worth $2,290,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Central Pacific Bank Trust Division lifted its holdings in shares of Manhattan Associates by 107.3% during the first quarter. Central Pacific Bank Trust Division now owns 199 shares of the software maker's stock valued at $34,000 after acquiring an additional 103 shares during the period. Park Square Financial Group LLC bought a new position in shares of Manhattan Associates in the fourth quarter valued at about $38,000. Transce3nd LLC bought a new position in shares of Manhattan Associates in the fourth quarter valued at about $41,000. Reyes Financial Architecture Inc. raised its holdings in shares of Manhattan Associates by 42.5% in the first quarter. Reyes Financial Architecture Inc. now owns 476 shares of the software maker's stock valued at $82,000 after buying an additional 142 shares during the last quarter. Finally, Harbor Investment Advisory LLC raised its holdings in shares of Manhattan Associates by 57.7% in the first quarter. Harbor Investment Advisory LLC now owns 552 shares of the software maker's stock valued at $96,000 after buying an additional 202 shares during the last quarter. 98.45% of the stock is owned by institutional investors.

Insider Buying and Selling at Manhattan Associates

In other news, EVP James Stewart Gantt sold 2,300 shares of Manhattan Associates stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $220.33, for a total transaction of $506,759.00. Following the transaction, the executive vice president owned 48,660 shares in the company, valued at $10,721,257.80. The trade was a 4.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.72% of the stock is owned by company insiders.

Manhattan Associates Price Performance

Shares of Manhattan Associates stock traded up $3.19 during trading on Wednesday, hitting $228.60. 561,228 shares of the company were exchanged, compared to its average volume of 826,537. The firm has a market capitalization of $13.82 billion, a P/E ratio of 63.87 and a beta of 1.08. Manhattan Associates, Inc. has a 1-year low of $140.81 and a 1-year high of $312.60. The firm's fifty day moving average price is $196.51 and its 200 day moving average price is $192.68.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The software maker reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.19. The company had revenue of $272.42 million during the quarter, compared to analyst estimates of $263.62 million. Manhattan Associates had a return on equity of 82.91% and a net margin of 20.91%. The company's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.18 EPS. As a group, equities research analysts anticipate that Manhattan Associates, Inc. will post 3.3 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. DA Davidson lifted their price target on Manhattan Associates from $225.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Loop Capital lifted their price target on Manhattan Associates from $170.00 to $200.00 and gave the company a "hold" rating in a report on Tuesday, July 22nd. Citigroup reiterated a "neutral" rating and issued a $200.00 price objective (up from $177.00) on shares of Manhattan Associates in a research report on Wednesday, July 16th. Redburn Atlantic lowered Manhattan Associates from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $270.00 to $200.00 in a research report on Tuesday, June 10th. Finally, Raymond James Financial lifted their price objective on Manhattan Associates from $195.00 to $250.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $216.67.

Manhattan Associates Company Profile

Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations. It offers Warehouse Management Solution for managing goods and information across the distribution centers; Manhattan Active Warehouse Management, a cloud native and version less application for the associate; and Transportation Management Solution for helping shippers navigate their way through the demands and meet customer service expectations at the lowest possible freight costs; Manhattan SCALE, a portfolio of logistics execution solution; and Manhattan Active Omni, which offers order management, store inventory and fulfillment, POS, and customer engagement tools for enterprises and stores.